Patrick Boyle On Finance Can Trump Cut Prescription Prices?
15 snips
May 23, 2025 Donald Trump's push to slash prescription drug prices is a hot topic, aiming to direct purchase from pharmaceutical companies and reduce costs drastically. The discussion highlights the staggering price differences for essential medications compared to other countries. Personal stories reveal the hardships individuals face in affording necessary treatments. The complexities of pharmaceutical pricing and the potential impact of price control measures are unpacked, alongside the challenges of reforming the healthcare landscape to achieve meaningful change.
AI Snips
Chapters
Transcript
Episode notes
US Drug Prices Are Much Higher
- Drug prices in the US are almost three times higher than in other countries, especially for brand name drugs.
- Other countries negotiate prices nationally, but US health plans are smaller and can't leverage the same discounts.
Canada’s Drug Price Tradeoff
- Canada's government negotiates drug prices to keep them low, but this limits availability of new drugs.
- US patients have access to more new drugs but at higher prices.
Trump’s Rich Friend’s Drug Story
- Trump shared a story of a wealthy friend paying $1,300 in New York for a drug that cost $88 in London.
- The drug was identical, made in the same factory, highlighting price disparity.